In response to increased demand for Flexjet aircraft, Bombardier is reserving 51 aircraft positions with a value of approximately $829 million for delivery to Flexjet over the next three years. This is in addition to the 16 new aircraft added to the Flexjet fleet since January 1, 2004, and represents both replacement of existing aircraft in the Flexjet fleet and net additional aircraft resulting from new sales of fractional shares.
More than 60 per cent of the planned deliveries will be Learjet 40 XR and Challenger 300 aircraft. These new Bombardier aircraft types helped Flexjet to achieve a 67 per cent increase in the number of new owners during 2004 compared with the previous year. Response from current Flexjet owners has also been tremendous and the company expects that many of these future aircraft will be sold to existing customers as their contracts come up for renewal.
"The new Bombardier Challenger 300 and Learjet 40 aircraft contributed to our rebound in sales during 2004 and our positive outlook for the future," said Michael McQuay, President, Bombardier Aircraft Services.
Flexjet owners purchase an interest in a Bombardier-built business jet that is managed on their behalf by Flexjet. The company provides trip reservation and scheduling, flight crews, aircraft maintenance and insurance.
"The Challenger 300 is perfect. It has comfort, range, and speed. What else do you need? I can honestly say it has extended my career," said Lance Armstrong, six-time winner of the Tour de France.
"I chose the Bombardier Challenger 300 because it is one of the most efficient, highest performing aircraft available", stated Michael Connors, president emeritus, AOL Technologies. "I have been very satisfied during my five years with Bombardier Flexjet and decided to renew and increase my ownership due to their responsiveness and the value they offer compared to other programs."
"We have been flying with Bombardier Flexjet since 1999 and have enjoyed the service. We recently decided to move into the Learjet 40 XR. It's quick, comfortable and has lots of room for baggage," said PGA TOUR professional Scott Verplank.
These new aircraft will support the complete range of private jet travel services offered by Bombardier. Companies and private individuals can select everything from the Flexjet 25-hour jet card or a full-service fractional ownership share in Learjet 40 XR, Learjet 45 XR, Learjet 60, Challenger 300 or Challenger 604 aircraft.
As part of Bombardier, a world leading manufacturer of business aircraft, Flexjet is the only fractional jet ownership program that offers the complete line of Bombardier-built Learjet and Challenger family of aircraft. Flexjet continues to lead the fractional ownership industry in program innovation and flexibility by offering the widest variety of share sizes and program enhancements such as Versatility Plus and AnyTime Options.
Established in 1995 and based in Dallas, Texas, Bombardier Flexjet offers a turnkey program allowing individuals or companies to purchase a share in a Bombardier business jet at a fraction of the full ownership cost. Flexjet owners select the most appropriate aircraft type for their needs, determine the number of hours per year they fly, and purchase shares of the Bombardier business jets starting at a share size of 1/16th (equal to 50 hours flying per year). Flexjet guarantees 24-hour access to its fleet with as little as six hours notice and can fly into 10 times the number of airports available to commercial flights, for maximum travel flexibility. Owners pay predictable monthly management and usage fees, while Bombardier Flexjet manages aircraft maintenance, flight crews, hangars, fuel and insurance on their behalf. Flexjet is the only fractional provider that fields an exclusive family of Bombardier business jets, including the Learjet 40 XR, Learjet 45 XR, Learjet 60, Challenger 300 and Challenger 604.
A world-leading manufacturer of innovative transportation solutions, from regional aircraft and business jets to rail transportation equipment, Bombardier Inc. is a global corporation headquartered in Canada. Its revenues for the fiscal year ended Jan. 31, 2005 were $15.8 billion US and its shares are traded on the Toronto Stock Exchange (BBD). News and information are available at www.bombardier.com
Bombardier, Learjet, Challenger and Flexjet are trademarks of Bombardier Inc. or its subsidiaries.